XML 52 R41.htm IDEA: XBRL DOCUMENT v3.22.2
Fair Value of Financial Instruments - Quantitative Information Regarding Significant Unobservable Inputs Used for Recurring Level 3 Fair Value Measurements of Financial Instruments (Details)
$ in Millions
 6 Months Ended 12 Months Ended
Jun. 30, 2022
USD ($)
Dec. 31, 2021
USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets, fair value $ 6,229 $ 5,600
Liabilities, fair value 2,941 3,883
Fixed indexed annuities | Discounted cash flow    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Liabilities, fair value $ 2,941 $ 3,883
Minimum | Fixed indexed annuities | Discounted cash flow    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Market value of option 0.00% 0.00%
Swap rates 1.28% 0.05%
Mortality multiplier 100.00% 100.00%
Surrender rates 0.25% 0.25%
Partial withdrawals 2.00% 2.00%
Non-performance spread 0.76% 0.43%
Option cost 0.00% 0.07%
Maximum | Fixed indexed annuities | Discounted cash flow    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Market value of option 23.28% 38.72%
Swap rates 3.38% 1.94%
Mortality multiplier 100.00% 100.00%
Surrender rates 70.00% 70.00%
Partial withdrawals 29.41% 23.26%
Non-performance spread 1.64% 1.01%
Option cost 4.97% 4.97%
Weighted Average | Fixed indexed annuities | Discounted cash flow    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Market value of option 0.48% 3.16%
Swap rates 2.33% 1.00%
Mortality multiplier 100.00% 100.00%
Surrender rates 6.38% 6.26%
Partial withdrawals 2.74% 2.72%
Non-performance spread 1.50% 0.68%
Option cost 1.86% 1.83%
Affiliated Entity | Minimum | Discounted cash flow | Discount rate    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity securities   0.1270
Affiliated Entity | Maximum | Discounted cash flow | Discount rate    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity securities   0.1270
Affiliated Entity | Weighted Average | Discounted cash flow | Discount rate    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity securities   0.1270
Asset-backed securities | Broker-quoted    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets, fair value $ 4,517 $ 3,844
Asset-backed securities | Third Party Valuation    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets, fair value $ 160 $ 115
Asset-backed securities | Minimum | Broker-quoted    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Offered quotes 41.02% 52.56%
Asset-backed securities | Minimum | Third Party Valuation    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Offered quotes 66.37% 93.02%
Asset-backed securities | Maximum | Broker-quoted    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Offered quotes 228.74% 260.70%
Asset-backed securities | Maximum | Third Party Valuation    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Offered quotes 100.34% 108.45%
Asset-backed securities | Weighted Average | Broker-quoted    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Offered quotes 92.19% 97.06%
Asset-backed securities | Weighted Average | Third Party Valuation    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Offered quotes 98.38% 104.95%
Commercial mortgage-backed securities | Broker-quoted    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets, fair value $ 21 $ 24
Commercial mortgage-backed securities | Third Party Valuation    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets, fair value $ 16 $ 11
Commercial mortgage-backed securities | Minimum | Broker-quoted    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Offered quotes 112.82% 126.70%
Commercial mortgage-backed securities | Minimum | Third Party Valuation    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Offered quotes 81.41% 97.91%
Commercial mortgage-backed securities | Maximum | Broker-quoted    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Offered quotes 112.82% 126.70%
Commercial mortgage-backed securities | Maximum | Third Party Valuation    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Offered quotes 71.25% 97.91%
Commercial mortgage-backed securities | Weighted Average | Broker-quoted    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Offered quotes 112.82% 126.70%
Commercial mortgage-backed securities | Weighted Average | Third Party Valuation    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Offered quotes 88.63% 97.91%
Corporates | Broker-quoted    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets, fair value $ 602 $ 380
Corporates | Third Party Valuation    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets, fair value 755 741
Corporates | Discounted cash flow    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets, fair value $ 17 $ 14
Corporates | Minimum | Broker-quoted    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Offered quotes 0.00% 0.00%
Corporates | Minimum | Third Party Valuation    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Offered quotes 75.42% 85.71%
Corporates | Minimum | Discounted cash flow    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities 0.4400  
Corporates | Minimum | Discounted cash flow | Discount rate    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities   0.4400
Corporates | Maximum | Broker-quoted    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Offered quotes 108.46% 109.69%
Corporates | Maximum | Third Party Valuation    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Offered quotes 124.99% 119.57%
Corporates | Maximum | Discounted cash flow    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities 1.0000  
Corporates | Maximum | Discounted cash flow | Discount rate    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities   1.0000
Corporates | Weighted Average | Broker-quoted    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Offered quotes 92.11% 100.91%
Corporates | Weighted Average | Third Party Valuation    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Offered quotes 94.59% 107.72%
Corporates | Weighted Average | Discounted cash flow    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities 0.7700  
Corporates | Weighted Average | Discounted cash flow | Discount rate    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities   0.6200
Municipals | Third Party Valuation    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets, fair value $ 33 $ 43
Municipals | Minimum | Third Party Valuation    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Offered quotes 106.40% 135.09%
Municipals | Maximum | Third Party Valuation    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Offered quotes 106.40% 135.09%
Municipals | Weighted Average | Third Party Valuation    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Offered quotes 106.40% 135.09%
Residential mortgage-backed securities | Broker-quoted    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets, fair value $ 9  
Residential mortgage-backed securities | Minimum | Broker-quoted    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Offered quotes 0.00%  
Residential mortgage-backed securities | Maximum | Broker-quoted    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Offered quotes 93.02%  
Residential mortgage-backed securities | Weighted Average | Broker-quoted    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Offered quotes 93.02%  
Foreign Governments | Third Party Valuation    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets, fair value $ 16 $ 18
Foreign Governments | Minimum | Third Party Valuation    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Offered quotes 98.73% 107.23%
Foreign Governments | Maximum | Third Party Valuation    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Offered quotes 99.59% 116.44%
Foreign Governments | Weighted Average | Third Party Valuation    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Offered quotes 99.32% 110.11%
Short term investments | Broker-quoted    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets, fair value   $ 321
Short term investments | Minimum | Broker-quoted    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Offered quotes   100.00%
Short term investments | Maximum | Broker-quoted    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Offered quotes   100.00%
Short term investments | Weighted Average | Broker-quoted    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Offered quotes   100.00%
Preferred securities | Minimum | Discounted cash flow    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities 1.0000  
Preferred securities | Maximum | Discounted cash flow    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities 1.0000  
Preferred securities | Weighted Average | Discounted cash flow    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities 1.0000  
Preferred securities | Affiliated Entity | Discounted cash flow    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets, fair value $ 1  
Preferred securities | Affiliated Entity | Income-Approach    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets, fair value   $ 2
Discount rate   2.43%
Equity securities | Broker-quoted    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets, fair value   $ 3
Equity securities | Minimum | Broker-quoted    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Offered quotes   623.00%
Equity securities | Minimum | Broker-quoted | EBITDA multiple    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity securities 5.5 5.9
Equity securities | Maximum | Broker-quoted    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Offered quotes   623.00%
Equity securities | Maximum | Broker-quoted | EBITDA multiple    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity securities 5.5 5.9
Equity securities | Weighted Average | Broker-quoted    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Offered quotes   623.00%
Equity securities | Weighted Average | Broker-quoted | EBITDA multiple    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity securities 5.5 5.9
Equity securities | Affiliated Entity | Broker-quoted    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets, fair value $ 6  
Equity securities | Affiliated Entity | Discounted cash flow    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets, fair value $ 4 $ 4
Equity securities | Affiliated Entity | Black Scholes model    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets, fair value   $ 2
Equity securities | Affiliated Entity | Black Scholes model | Dividend Yield    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity securities   0.0000
Equity securities | Affiliated Entity | Minimum | Broker-quoted    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Offered quotes 6050.00%  
Equity securities | Affiliated Entity | Minimum | Discounted cash flow | Discount rate    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity securities 0.1110  
Equity securities | Affiliated Entity | Minimum | Black Scholes model | Risk Free Rate    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity securities   0.0100
Equity securities | Affiliated Entity | Minimum | Black Scholes model | Strike Price    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity securities   1.50
Equity securities | Affiliated Entity | Minimum | Black Scholes model | Volatility    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity securities   0.8100
Equity securities | Affiliated Entity | Maximum | Broker-quoted    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Offered quotes 6050.00%  
Equity securities | Affiliated Entity | Maximum | Discounted cash flow | Discount rate    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity securities 0.1110  
Equity securities | Affiliated Entity | Maximum | Black Scholes model | Risk Free Rate    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity securities   0.0100
Equity securities | Affiliated Entity | Maximum | Black Scholes model | Strike Price    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity securities   1.50
Equity securities | Affiliated Entity | Maximum | Black Scholes model | Volatility    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity securities   0.8100
Equity securities | Affiliated Entity | Weighted Average | Broker-quoted    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Offered quotes 6050.00%  
Equity securities | Affiliated Entity | Weighted Average | Discounted cash flow | Discount rate    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity securities 0.1110  
Equity securities | Affiliated Entity | Weighted Average | Black Scholes model | Risk Free Rate    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity securities   0.0100
Equity securities | Affiliated Entity | Weighted Average | Black Scholes model | Strike Price    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity securities   1.50
Equity securities | Affiliated Entity | Weighted Average | Black Scholes model | Volatility    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Equity securities   0.8100
Available-for-sale embedded derivative | Third Party Valuation    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Market value of fund   100.00%
Available-for-sale embedded derivative | Black Scholes model    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets, fair value $ 24  
Market value of fund 100.00%  
Available-for-sale embedded derivative | Affiliated Entity | Discounted cash flow    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets, fair value   $ 34
Secured borrowing receivable | Broker-quoted    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets, fair value $ 10  
Secured borrowing receivable | Minimum | Broker-quoted    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Offered quotes 100.00%  
Secured borrowing receivable | Maximum | Broker-quoted    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Offered quotes 100.00%  
Secured borrowing receivable | Weighted Average | Broker-quoted    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Offered quotes 100.00%  
Credit linked note | Broker-quoted    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets, fair value $ 17  
Offered quotes 100.00%  
Credit linked note | Affiliated Entity | Broker-quoted    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Offered quotes   100.00%
Credit linked note | Affiliated Entity | Discounted cash flow    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets, fair value   $ 23
Investment in affiliate | Broker-quoted    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets, fair value $ 21  
Investment in affiliate | Minimum | EBITDA multiple    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investment in affiliate 8 8
Investment in affiliate | Maximum | EBITDA multiple    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Investment in affiliate 8 8
Investment in affiliate | Affiliated Entity | Discounted cash flow    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets, fair value   $ 21